Ethereum has surged to a five-month peak of $3,418 with over 7% gains in 24 hours, signaling strengthening bullish momentum as institutions actively accumulate the asset. Entities including SharpLink Gaming and BitMine Immersion Technologies have notably increased ETH holdings, reinforcing institutional confidence.
The ETH/BTC trading pair has risen nearly 20% in the past fortnight, reflecting robust market sentiment and suggesting ETH is outperforming Bitcoin. Supply dynamics further support bullish prospects, with ETH reserves on centralized exchanges declining from 7.5 million to 7.22 million since the start of the year.
Prominent analysts project potential record-breaking price levels. Charles Edwards, founder of Capriole Fund, attributes this outlook to Ethereum’s strong growth fundamentals and shifting market perception. The cryptocurrency’s position is strengthened by ongoing network upgrades and sustained institutional engagement, creating favorable conditions for continued price appreciation.